South America deodorants market is projected to grow at a CAGR of 3.95% during the forecast period (2020-2025).
- There has been an increase in demand for safe, natural, and organic deodorant products in the market, due to the rise in consumer awareness about the harmful effects of paraben and aluminum compounds present in the deodorants.
- The market for deodorant is tending towards maturity, and manufacturers are compelled to improve their product offerings to match the dynamically changing consumer requirements. To sustain in the competitive environment, the companies in Brazil are using strategies, like heavy discounts and offers, such as buy-two-get-one free.
- Moreover, the increasing demand for deodorants among millennials is one of the major factors driving the market in Southern America.
Key Market Trends
Roll On Accounts Significant Share of the Market
Roll-on projects healthy growth in the forecasted period, driven by gender-specific products available in the market through major distribution channels. The increasing use of roll-ons, by young adults and athletes, is also driving the sales growth of the segment in the deodorant market. The consumers are searching for properties in roll-ons that are beyond efficacy and also for natural and sustainable products. Competitors are focusing on increasing awareness and enhancing their brand image in the market through various digital marketing campaigns. The product premiumization, along with attractive packaging is being done by manufacturers to attract consumers toward deodorant, which is an important factor influencing the growth of the deodorant roll-ons market in the forecasted period.
Brazil is the Largest Market
Brazil is one of the major beauty-market in the world. This is due to its tropical climate, which increases the demand for deodorants in the country. The Brazilian market for deodorants is thriving, with the rise in demand. Therefore, many players are entering the market, and the consumers are getting the opportunity to choose among the various options available to them while checking the deodorant shelf space. Unilever Brasil Ltda leads the deodorant market in Brazil, due to its portfolio of strong brands, that are driving innovation. However, to retain its market presence, Beiersdorf Global AG launched Nivea Sem Perfume antiperspirant and the Nivea Men Silver Protect Antibacterial line in Brazil. Moreover, the wider availability of products in supermarkets/hypermarkets and major pharmacy chains of the country drives the market share.
The South America deodorants market is fragmented with the presence of large regional and global players in the region. Major players, such as Procter & Gamble and Unilever, are focusing on merger and acquisition strategies to capture the maximum market share. Acquiring local brands enable diversification and give these players access to stable cash flows and growth opportunities.
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